Behind Groupon's $6 Billion Brushoff of Google

Frank Sennett, author of "Groupon's Biggest Deal Ever," discusses the backstage deal-making that led Groupon to turn down billions from Google.

This transcript has been automatically generated and may not be 100% accurate.

... I ... the ... what I wanted to say ... the yes J live I'm Simon Constable you all looking to cover what you will recover what was just released the bag Groupon's Biggest Deal ever ... the deals they turned it down six billion dollars say no thanks to you on we have gone Franks an ad from Chicago is the author of a book joining us now ... Frank thank you very much for a rough of being with us and congratulations on a new book I know it is to ... to get out a book I've I've been reading about the process of the debate go to saying no to six billion dollars ... it is quite remarkable take take us through this William ... yes the extraordinary ... journey our results is the first ... anybody seen a video so appreciative ... the ... we're very close in India we have the meter million dollars breakup fee negotiated a five point seven five billion dollars on the table ... and ... they just decided that the projections they were seeing in the last minute ... they were going to turn down and see him doing their own so it was ... it's a head shaking from Silicon Valley all around the world that they can ... get into the valuation today it's basically what ... you know at five point seven five billion dollars for their ... people are asking that same question today should be entered ... it's a little it's about six point two billion to buy it but so very close to it and makes no difference I think about the sort of level ... now though with some things that whether the upward swing he plans in this act group on ... aam Lefkofsky Mason and Solomon and one of the issues I miss them for what you've written ... is in fact one reason found some good movement was by governments ... and buying off on the deal ... was gonna happen look Allstate ... very anxious for many months and it could be could stand that tells about that ... the ... the review by the Department of Justice to take the next eighteen months and in that time ... you may recall that on Amazon and just what a lot of money to the Social e end of the sky turned the heels of the economy ... they were tangled up ... in the new details of which are good and they can be critical because they can do the hiring it would need to do that to the expansion the need to do ... what they were waiting on tenterhooks all ... so ... part of why the outlook of the ... said they are private in the US for eighteen months of the big side and turn it down just to be able ... to ... go about your new office of the day that they have the feeling that they might be cashing out too soon and that was pot of water ... and all of them so that I mean if someone offered me six Billy inbox ... for companies selling coupons ... to folks I'd yell at the US into a pre good element ... it's ... as you ... say that the only ... on ... most people I think one of the things that ... has been talked about as much insight about the calculus that though is that ... in the private investment around ... they can have a pretty pretty big the inside of top level low so ... they're ... in the company's control but in this class ... cash a hundred million dollars so ... you know they did ok ... it's from eleven am and that of Andrew Mason will was his role in mixing this at six million box ... well he he the loan was for the increase in exchange for Groupon's he was willing ... to go for it ... see the remaining debt and ... that the board at ... the center said when you go this way ... he was willing to go with it ... what did you think them regret that now I mean that the company has had to um you know a thing and and not a fun time with with the stock market not a fun time with and fast as I love that ... some of their accounting metrics that they'd like to use that to get a bit of a passing by some people ... to think knowing them but some think that was they didn't do this ... I think the just to prove themselves to Amazon ... longer term horizon and it's going to take on these are very close ... they got a ... few more votes in the room that they get their financial controls nearly an hour ... start earning a regular problem in expanding their product offerings because they want to be that ... dash for local commerce and they can all that sure how ... you can be sitting here are five or ten years on ... my chips ... and sing at ... how smart they were in Ikea ... I can't predict or entity or three years in a while ... so ... the jury is still way out ... what that that spoke only on the level to ripen in lots front Senate for all Groupon's Biggest Deal ever published today ... this married I thank you very much